Tackle Insurance Question

[RonG]

I have tackle insurance through the NFLCC with Seabury & Smith. It's starting to get more pricey as the years and collecting goes by. Does anyone know any other options of a "Good" insurance company for collections?

Thanks,
Ron

[Bill Muth]

I've got mine insured through the company at www.collectinsure.com. Better rates, never had to file a claim and hope I never have to find out how they handle them.

[Warren Platt]

I'm in the same boat as Ron and definitely need to change. Anyone else have good rates with a Company that you trust?

[mortepa]

Try this previous link dealing with insurance. Some good tips and suggestions there, some have already been re-addressed in this post. It is a topic that may apply to many of us.

http://reeltalk.orcaonline.org ... =insurance

[michael anderson]

I just paid mine through a company called Starkweather and Shepley. They have an arrangement through the NFLCC for a special rider for fishing tackle collectibles. I assume they replace the company cited in the first post. Rates seem pretty reasonable ($6 per $1000 coverage) and they assured me over the phone (for what that's worth) that my policy will cover losses in excess of the deductible $100 with certain exclusions (theft from unlocked vehicle, acts of God, that sort of thing). You must itemize any item with a value over $1000.

[joe klaus]

Ron:

I've struggled with this problem for years. I've been giving some thought to purchasing a gun safe from Sam's, and storing reels that have unusual value in the safe. I would continue to insure but lower the amount of insurance to reflect the decrease in risk provided by the gun safe. The safe would offer protection from fire as well as theft.

But the safe idea presents a couple of practicial problems. First is the initial cost, which would likely run me about $950.00 (at Sam's). Second,
I don't have a place in my house that is "convenient" to put a gun safe that is 3' x 3' and 6 ft. tall (roughly).

I recall (vaguely) that Mike Echols advocated using a gun safe as a means for storing tackle. I'm curious. Do any of the readers of this board store their collections in a safe? Any "tips" about using a safe?

[john elder]

Joe: I share your concerns...but geeez, if you have to stick the stuff in a blockhouse in the basement, what's the point of owning it?! if fit's just an investment, then that..or a safety deposit box, would be fine. But i came to the conclusion that if I was that worried about it, then i didn't want to own it. I have almost all my tackle out in the room where i can stare at it and watch it collect dust and drive the wife crazy...that's the joy of having it to me. Of course, my collection is cheese compared to yours, so I might have different ideas from your side of the couch.

[joe klaus]

John:

I agree with what you say (about wanting to "play" with the reels) and that is another practical consideration. But my idea wouldn't necessarily
prevent me from continuing to enjoy the reels.

I don't have a specific blueprint for what I would do, but I'm thinking that the safe would be located in "my room" and the reels in question would only be stored there when I went out of town. I would likely store some boxed reels in there on a more permanent basis but everything would be available for me to "get to" conveniently.

I totally agree that this is a hobby and NOT an investment. I'm more interested in preserving my reels for my enjoyment, and for other to enjoy in the future, as opposed to protecting a monetary asset. Which is a main reason for using a safe. Insurance will reimburse you for money but it won't give you the reel back. That safe may SAVE the reel.

[Harvey]

I am like John. If it can't collect dust, I don't need it. I will admit that I have maybe 30 reels along with some other valuables stored in safe deposit box up north but these reels are ones that I don't want to play with. The best answer I have ever heard, and I don't remember who said it, was when ask who they used to protect their investment was , "A Company called, 38 Special and Bulldog". That may be the best and cheapest way .
Here is something to think about. When we in South Fla. were being threatened by a hurricane last spring The "Cone of Provability” had me dead in it’s sight. Being a scareidy cat that I have became, I decided to pack up all my collection and secure in a safe place. That took two days! Now I will admit that a thief will not rap every reel in it’s own little cloth bag and care for it as I did but he will have one hell of a time totin’ it out of the house. So, what would he take? The stuff that is out in the open and easy to grab. Shouldn't that be the stuff that we treasure the least.? I know in my case, most of my better reels are put out of sight or are in boxes that are mixed among less desired items. I hope that if I am robbed, the thief doesn’t have a list of what items to take and what items he can’t trade for a crack rock with. Another thing. I try to secure my house the best I can. To get in, you would have to break a window If I am not home. The doors have a dead bolt that can not be unlocked from the inside if I leave and lock them from the out side. I learned my lesson once. The “Tennis Shoe Bandit” as he was called, broke and ransacked my house looking for money and drugs. He broke in thru a bathroom window and left thru the door. I installed the locks. About three months later, the same thief (fingerprints proved that) did it again. This time he had his eye on a couple Penn Internationals on custom rods that were in the bedroom. Well, he couldn’t get out of the door. He had to crawl out the window he came in. When I got home and found the cops there, .The neighbor lady had heard him and called them. I opened the door and there my rods and reels stood, right inside by the door. Keeping my collection safe is not my main priority. I do what I can to make it as tuff as I can but I don’t lay awake at night worrying about it.
These are my thoughts and I am sticking to them!
“H”

[drexelantiques]

I have had my insurance through Chubb for 15 years, an agreed value policy. I find them very professional, reasonable in price, and their policy is geared toward collectors and antiques.

In fact not only do I have my collection with them, I also insure other antiques in my home, and some of the better items in my antique shop with them.

http://www.chubb.com/indexPC.html